Crucial extension granted for OTC Derivatives Providers

Financial institutions providing over-the-counter derivatives products have been working hard towards obtaining registration as such by the 28 January 2019.

11 Dec 2018 1 min read Finance & Banking Alert Article

In a notice published by the Financial Sector Conduct Authority (FSCA) late last week, OTC derivatives providers have been granted an extension and will now have until 31 March 2019 to obtain authorisation in terms of Conduct Standard 1 of 2018.

Conduct Standard 1 of 2018 sets out the Authorisation Criteria for OTC Derivatives Providers and was published by the FSCA on 27 July 2018. After a number of enquiries from market participants who, according to the FSCA’s notice “were experiencing difficulties in completing and submitting the required information timeously”, the two month extension was deemed necessary.

The information and material published on this website is provided for general purposes only and does not constitute legal advice. We make every effort to ensure that the content is updated regularly and to offer the most current and accurate information. Please consult one of our lawyers on any specific legal problem or matter. We accept no responsibility for any loss or damage, whether direct or consequential, which may arise from reliance on the information contained in these pages. Please refer to our full terms and conditions. Copyright © 2023 Cliffe Dekker Hofmeyr. All rights reserved. For permission to reproduce an article or publication, please contact us